Mobile payment, also referred to as mobile money, mobile banking or mobile wallet, allows for the user/customer to conduct a transaction (i.e., pay for goods or services) using their mobile communication device as the payment vehicle as opposed to conventional means for payment (e.g., cash, credit/debit card, check or the like). Many different types of mobile payment are currently in use or will be in use in the future. For example, short range wireless communication, such as Near Field Communication (NFC), Wi-Fi, Bluetooth® or the like, allows for mobile payment via mobile communication device's equipped with requisite short range wireless communication functionality, such as a NFC chip (or some other close-range wireless protocol chip). The NFC or other short range wireless functionality provides for the mobile communication device to wirelessly exchange payment credentials in a secure environment with a corresponding point-of sale (POS) terminal, which is also configured with the requisite short range wireless functionality.
In another example, visual indicia exchange may be implemented between the mobile communication device and the payment terminal. For example, the POS terminal may display computer readable-indicia, for example computer readable-indicia, such as a barcode, Quick Response (QR) code or the like, which is captured by the mobile communication device via an image capture mechanism (i.e., a camera or the like) embodied with the mobile communication device. In response to receipt and processing of the computer readable-indicia, the mobile communication device will communicate payment credentials to the POS. In specific example, the mobile communication device may generate and displays another computer readable-indicia, which includes the customer's payment credentials and is subsequently captured by the POS terminal.
In a related example, computer readable-indicia may be implemented in conjunction with cloud storage of the customer's credentials. In such an example, the POS terminal may display computer readable-indicia, such as a barcode, Quick Response (QR) code or the like, which is captured by the mobile communication device and provides for the mobile communication device to connect with the cloud. Once the mobile and the POS terminal have connected with the cloud, secure key exchange provides the authentication for the customer's payment credentials to be communicated form the cloud storage to the POS terminal.
The various different mobile payment types all require the mobile communication device and/or the related payment applications to perform functions that are specific to the mobile payment type. For example, Short-range communication, such as NFC requires activation of the short-range/NFC chip for broadcasting such communications, indicia capturing requires activation of the image capturing device (i.e., camera) and the like. In practice, the customer may be unaware of which type(s) of mobile payment type a merchant accepts until they are about to conduct the payment transaction (i.e., at that the POS terminal). An inefficiency is realized in terms of overall transaction time, if the customer is required to manually configure the mobile communication device for mobile payment of the type accepted by the retailer when the customer is about to conduct a transaction (i.e., at the POS terminal). Moreover, if the customer, within a short period of time, is unable to manually configure their mobile communication device at the POS terminal, the customer may forego a mobile payment and resort to conventional payment means (i.e., cash, check, credit/debit or the like).
Therefore, a need exists for a more efficient means of conducting mobile payments. The invention should take into account that various different mobile payment types or platforms may be implemented by different retailers or merchants and that the consumer/user is often unaware of the type of mobile payment accepted by the merchant until they are at the POS terminal, ready to conduct a transaction. Moreover, the present invention should eliminate the need for the consumer to manually activate applications and devices associated with the merchant's mobile payment type, thereby further expediting the overall mobile payment process.